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From left, Alexandra Vegas, P&G; Graciela Eleta, Univision; and Linda Levy, Macy’s, discussed Marketing Beauty to the Hispanic Consumer.
CEW’s Women & Men in Beauty Series presented a panel of experts on January 19, 2012, at New York’s Harmonie Club, to discuss the newest research and perspectives on the Hispanic market. Jill Scalamandre, Chairwoman, CEW, and CMO, Chrysallis, introduced the evening’s guests, who represented media, manufacturing and consumer interests. She also acknowledged Shape, Givaudan, Mark, Beauty Inc., Haute Look, Univision, 24/seven and Kaplow for their sponsorship of the event.
The evening began with the official announcement of the now newly renamed series, as CEW’s Women & Men in Beauty series, a nod to the inclusive nature of the presentations and future panels, which will feature beauty professionals of both genders. Introducing Graciela Eleta, senior vice president, client development group, Univision Communications, Inc.; Linda G. Levy, vice president, merchandise marketing, cosmetics & fragrances, Macy’s Inc.; Alexandra Vegas, director of the multicultural business development organization, Procter & Gamble; and moderator, Jenny Fine of Beauty Inc., Scalamandre stated that the Hispanic market was a major economic driver, with $1.2 trillion spending power. In addition, she said, “The Hispanic population grew more than 40% over ten years to surpass the 50 million mark.”
“The Hispanic consumer is one of the largest and most important segments," added Carlotta Jacobson, president, CEW. "We are extremely fortunate to have the opportunity to learn best practices from these industry experts in meeting the needs of the Hispanic consumer.”
“The Hispanic community is 50 million strong, 23% of the population are moms and between 23-55% of the population in the U.S. is already of Hispanic descent,” said Eleta, who previously served as general manager for P&G’s Puerto Rico subsidiary, where she successfully launched brands like Pantene, Olay, and Swiffer, was also vice president for multicultural business development at P&G, where she developed marketing and retail strategies for Hispanic and African-American consumers. At Univision, she leads a consulting team consisting of 50 plus media veterans from media, marketing and agency backgrounds that work to help marketers develop and execute their strategies to drive sales with Hispanics, as well as assisting brands in unearthing consumer insights, analyzing category trends and assessing the competitive landscape.
She noted that the major Hispanic markets are located in Miami, LA, Houston, Chicago and New York, and this is a significant market with specialized tastes, preferences and needs. According to the reprint of Pretty Revenue Picture Ahead for Beauty Brands That Target Latinas by Peter Filiaci, published by GCI in December 2011, distributed at the presentation, its 40% growth over the past 10 years was so robust that Hispanics accounted for more than half of the total U.S. population increase from 2000 to 2010, with that growth showing no signs of slowing down. It is predicted that over the next 10 years, Latinas 18-49 will grow by another 3.2 million, and Latinas will represent one in every five women in the demographic by 2020. Clearly, the significance of the market cannot be underestimated, and beauty occupies a major space in the equation.